Yesterday, IDC released the "2018Q4 China Wearable Device Market Quarterly Tracking Report". The report shows that China's wearable device market shipments in the fourth quarter of 2018 were 22.69 million units, a year-on-year increase of 30.4%.

The report pointed out that in the fourth quarter of 2018, the top five wearable device manufacturers in the Chinese market were Xiaomi, Huawei, Apple, BBK, and Lexin. The top three have a combined market share of more than 50%.

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Figure 1 Ranking of the top five wearable device manufacturers in the Chinese market in the fourth quarter of 2018

Among them, the performance of the Xiaomi bracelet in the fourth quarter increased month-on-month and slightly declined year-on-year. Huawei has shown the effect of multiple product lines in the wearable device market. Apple posted year-over-year growth in the quarter. The e-commerce channel of BBK's Little Genius has been stimulated by activities such as the year-end promotion to promote its growth, and the proportion of 4G products has continued to expand. Lexin achieved year-on-year growth driven by large customer orders at the end of the year.

Smart watch products for children have become a major force in the wearable device market. Of the 72.3 million units sold, 21.67 million units were targeted at children. 38% of smartwatches have location tracking and 4G capabilities.

Overall, China's wearable device market shipped 73.21 million units in 2018, a year-on-year increase of 28.5%. The top five manufacturers in the market are Xiaomi, Huawei, Apple, BBK and Qihoo 360. IDC predicts that by 2023, market shipments will reach 120 million units.